Tech Talk - Iranian Oil and the Global Future

Yet Turkey, which gets some 20% of its natural gas from Iran, taking roughly 90% of Iran’s natural gas exports is resisting pressure to lower its gas purchases, since the fuel is the primary source for most Turkish electricity. And further, with estimates of Turkish needs estimated as rising to 655 kbd by 2016 , the ability of the country to sustain an adequate supply of power supply may become more difficult without reliance on Iran. There is a somewhat similar argument made in South Korea, who, while they have cut demand by some 30%, continue to import around 186 kbd of Iranian oil as of October, though the volume varies, depending on who is doing the counting . Similarly one sees that both China and India are reported to be lowering their purchases so that there is a projection that Iran might not ship more than 834 kbd in December. Some of the problem in sustaining eve...